Kevin O’Leary recently expressed doubt regarding speculations about the Federal Reserve reducing interest rates in December, a change often seen as positive for cryptocurrencies. Despite his skepticism, O’Leary reassured that such a stance would not drastically affect Bitcoin’s value, stating:

“I don’t actually think the Fed’s gonna cut in December. It’s not gonna make a difference to Bitcoin.”

In his comments, O’Leary maintained that he isn’t basing his investment strategies on anticipated Fed actions.

He also highlighted concerns about persistent inflation in the economy, which has surged to an annual rate of 3% as of September, marking the highest in January. O’Leary asserted:

“It’s a dual mandate, full employment and inflation. The tariffs are starting to take hold along with input costs.”

Even though market expectations suggest a high likelihood of a Fed rate cut in December, O’Leary remains unconvinced of its impact on Bitcoin’s upcoming performance. He noted that the cryptocurrency has stabilized and doesn’t predict significant price changes, explaining that it might fluctuate around 5%. He concluded by stating that:

“I don’t see a lot of upside catalyst.”

Currently, Bitcoin is trading at $91,440 according to CoinMarketCap.